Pre-Market, 4 May 2026: What To Expect After Nifty Slips to 23,997; Q4 Earnings & Election Results In Focus

Indian markets begin the week on Monday after a weak close in the previous session. The Nifty 50 slipped 180.10 points, or 0.74%, closing at 23,997.55 on 30 April 2026. The Sensex lost 582.86 points, or 0.75%, to end at 76,913.50.

What Happened in Thursday's Session?

Markets saw broad-based selling throughout the day.

Pressure was visible in banking, FMCG and auto stocks, which dragged the benchmarks lower. The weakness was also accompanied by a sharp fall in the rupee.

Volatility eased during the session. India VIX dropped 5.86% to 18.46.

Global Cues After Market Hours

Global markets gave mixed signals after Indian trading hours.

In the US, the Dow Jones Industrial Average fell 152.87 points (0.31%) to 49,499.27. The S&P 500 rose 21.11 points (0.29%) to 7,230.12, while the Nasdaq Composite gained 222.13 points (0.89%) to 25,114.44.

Both the S&P 500 and Nasdaq ended at record highs, extending their winning run to six straight weeks. Strong earnings and continued buying in tech stocks kept the momentum intact. For April, the S&P 500 rose more than 10%, while the Nasdaq surged over 15%. It was their strongest monthly performance since 2020.

At the same time, investors remain focused on incoming economic data and further earnings announcements. More than 100 companies in the S&P 500 are set to report results in the coming days, with overall earnings growth tracking at 27.8% year-on-year.

In Europe, markets were mixed. The FTSE 100 slipped 0.14% to 10,363.93.

Asian markets showed a mixed trend. Japan’s Nikkei 225 rose 228.20 points (0.38%) to 59,513.12, while Hong Kong’s Hang Seng declined 335.31 points (1.28%) to 25,776.53.

Currency markets also saw action. The Japanese yen moved sharply after comments from officials hinted at possible intervention, while the US dollar eased during the session.

GIFT Nifty Update

GIFT Nifty was around 24,229.50, up 82.50 points (0.34%) as of 02 May 2026, 02:29 IST. The signal points to a mildly positive start for domestic markets.

Technical Levels To Watch

The Nifty index continues to trade within a defined range.

• Immediate support is placed around 23,800

• A break below this could drag the index towards 23,600–23,500

• On the upside, resistance is seen near 24,300–24,350

• A move above this zone could open the path towards 24,600

For now, the index is moving within the 23,800–24,300 band. A breakout on either side could decide the next move.

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What Should Investors Expect Today?

A few factors could shape market direction this week. Early trade may see a slightly positive bias, in line with GIFT Nifty trends. Earnings season is still in full swing, with more companies lined up to report.

Global factors will also be in focus. Investors will track US economic data and signals from central banks.

Back home, state election results due on Monday may lead to short-term volatility. However, market experts suggest such events usually have a limited long-term impact.

Foreign institutional investors continue to be cautious. They have sold around ₹70,100 crore worth of equities in April and nearly ₹2.4 lakh crore so far in 2026.

Investors will focus on earnings, global signals and domestic developments throughout the day.

Sources:

The Economic Times

Reuters